Abstract
How quickly do the returns to education fall when the number of educated people rises? This has been a crucial question for the philosophy of educational planning, since the case for manpower forecasting and planning is stronger the less easy the process of substituting educated for less educated people.
Journal of Political Economy, 83(2) (1975), pp. 279–301. © 1975 by The University of Chicago. All rights received. We are grateful for financial support to the UK Social Science Research Council, and to C. R. S. Dougherty and G. Pyatt for helpful comments. For further discussion of many of the topics see Fallon (1974).
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© 1999 Richard Layard
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Fallon, P. (1999). Capital–Skill Complementarity, Income Distribution, and Output Accounting (1975). In: Tackling Inequality. Palgrave Macmillan, London. https://doi.org/10.1057/9780230375284_10
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